You’ve probably heard about China’s colossal $600-billion stimulus package intended to jump-start its economy. But chances are you didn’t hear about the new $40-billion initiative by China’s wireless carriers to modernize the national network…

Three of China’s largest wireless carriers are making a mad dash to bring the country’s wireless infrastructure into the 21st century with a widespread upgrade to so-called 3G networks.

3G networks enable high-speed, multimedia services packed with hefty margins for the carriers. Get in now on the program and you’re likely to see healthy returns as the networks come on line.

3G achieved legendary status in the U.S. and Europe when Apple announced a revised iPhone that was 3G compatible.

For example, when AT&T (NYSE:ATT) announced Q2 results on July 23, 2008, its revenues jumped as the exclusive provider of the iPhone 3G. The new phones entered the market on July 11.

In its Q2 earnings, AT&T reported that during the first 12 days, sales of the iPhone 3G nearly doubled levels achieved in AT&T’s 2007 iPhone launch. Subscriber growth surged to 1.3 million, with a larger percentage opting for higher-end smart phones like the iPhone 3G.

Bottom line: a 52% increase in wireless data service revenue, and an increase in average revenue per user (ARPU) of 3.5%.

Now the question remains: Does AT&Ts’ 3G growth serve as a model for China’s wireless carriers?

While China’s wireless providers may not see such startling increases, it is safe to assume that revenues will certainly rise.

The Chinese telecommunications market is the biggest on the planet. With the mobile sector still expanding at over 18% going into 2008, the 3G will surely give the market yet another boost, according to research from Paul Budde Communication.

Paul Buddle also reports…

“The robust growth was due to an expanding rural market and the increasing number of people who have acquired more than one mobile phone. Both China Mobile and China Unicom have invested considerably in network improvements, especially in rural China, where approximately 750 million of China’s population resides and teledensity is just 12%. For many of China’s tech-savvy citizens, the mobile phone is becoming the preferred means of using the Internet. The number of people who access the Internet through their mobile phone surged to 50 million in 2007 from 17 million at the end of 2006, about a quarter of China’s Internet users.”

Of the three Chinese carriers going 3G, China Mobile stands to be the biggest winner. It’s China’s largest wireless service provider.

China Mobile trades in the U.S. under the symbol CHL on the NYSE. Currently trading in the $50 range, its down off a 52-week high of $91.78.

Sure, China’s economy is in a slump. But advanced wireless services such as 3G are the staple of current and future economic growth. In China, 3G is inevitability.

In the current economic climate it may take longer for 3G to spread in China than everyone would like. Still, this is a sure thing. You just have to be a little more patient.